Loop industries announces mou for us$66 million of non-dilutive financing from reed management, as part of a joint venture for european infinite loop(tm) technology roll-out

Us$33 million initial investment from reed management ("reed") to be provided to loop industries as non-dilutive capital to fund loop's technology commercialization globally remaining us$33 million to be invested in a strategic joint venture for commercial roll-out of infinite looptm technology in europe montreal, qc / accesswire / january 16, 2024 / loop industries, inc. (nasdaq:loop) (the "company" or "loop"), a clean technology company whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate ("pet") plastic and polyester fiber, announced today that the company signed a non-binding memorandum of understanding ("mou") with reed, a european investment firm focused on high impact and technology-enabled infrastructure. loop and reed intend to form a strategic long-term partnership through the establishment of a 50/50 joint venture (the "jv") to commercialize loop's technology in europe.
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